Majority of Americans would take a pay cut for a better work-life balance, survey finds
Ford survey finds 51% of Americans willing to take 20% pay cut to prioritize quality of life
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Workers across the globe are starting to reassess what’s more personally important to them: an improved work-life balance or taking home more pay.
According to a recent survey from U.S. automaker Ford, 52% of polled employees worldwide said they’d take a 20% pay cut to achieve a lifestyle that prioritizes their quality of life. The percentage of Americans who feel the same isn’t too far off, at 51%.
And while Ford noted those polled say they still feel connected to their professional roles, they acknowledge a stressful job may be worth leaving behind. Seventy-nine percent of U.S. baby boomers, 72% of Gen X, 63% of millennials and 66% of Gen Z agree it’s not worth working a job that increases stress levels.
Ramsey Solutions personality and career expert Ken Coleman previously told FOX News Digital that America’s job culture is changing, mostly thanks to trends brought on by the youngest of employees.
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"I think this will be the generation that ushers in the four-day workweek. I think this is the generation that will mark a truly hybrid reality," Coleman said.
"Older generations, please follow my lead on this," the career expert added, "because you're going to have to lead these young people, and they're rock stars in this generation. They're coming to the workplace with a whole different lens on society and life in general, and you have to deal with that. Don't gripe about it."
Fifty-one percent of American employees are willing to take a 20% pay cut if it means a better work-life balance, according to a Ford survey. (Fox News)
And receiving less pay may mean working for longer – in 2023, more American retirees have returned to full or part-time work, about 20% year-over-year, according to AARP. Coleman predicted that this number may increase.
"I recently read some data that hiring managers are less willing to hire a member from the Gen Z generation, and they're more likely to hire someone in their 60s," the career expert pointed out. "And the reason for that is because they feel like they're going to get somebody with a good work ethic who is there because they need to be there, and thus they want to be there."
"Then, the added bonus of good locker room influence," he continued, "A positive influence for the younger players because of the work ethic and the experience wisdom they bring. And I think you're going to see this in corporate America."
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Looking ahead to the future, many workers (60% globally) see artificial intelligence (A.I.) as a positive influence on work-life balance. The Ford survey found that 69% of worldwide millennials and Gen Z workers will trust A.I. to provide career advice in the next five years.
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"The most prescient opportunity in 2024 is A.I. and A.I. tools," LinkedIn’s Andrew McCaskill also told FOX News Digital. "I think that there's so many more people who are looking for A.I. skills and looking to see workers be able to not be afraid of A.I. tools, and to actually lean into them."
"And you can do that right now and get so far ahead of the game, even today, from the comfort of your own home," McCaskill added. "And I think that that's where the future is going."
Echoing some of the survey’s sentiments, Coleman expanded on the importance of choosing a job not solely based on its impact on your wallet.
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'Making Money' host Charles Payne reacts to cautious markets ahead of the release of December's jobs report.
"You can control your effort. You can control your attitude. You can control the type of contribution that you want to make in the world. And yet, you can't control the economy. You can't control layoffs. You can't control maybe having a really bad leader or bad manager," the Ramsey personality listed.
"My advice in 2024 is: head down as you are focused on getting better," Coleman said. "Don't just work to get a paycheck. Work on yourself as much as you work on your job. Upskill, connect like your life depends on it, and keep your head up and on a swivel for opportunities."